Jakub Porzycki / NurPhoto by Getty Images
GameStop shares rose 44% in premarket trading on Thursday as sharply shortened shares favored by Reddit traders appear to be reappearing.
Investors piled up at the brick video game retailer on Wednesday, following the reported removal of chief financial officer Jim Bell, sending shares up 103.9% before trading stopped.
The company announced on Tuesday that Bell will resign on March 26, with reports suggesting that Ryan Cohen – GameStop investor and co-founder of online pet food retailer Chewy – and the board of directors have forced the move to speed up their online transition. .
GameStop was at the center of a period of market chaos at the end of January, as Reddit-led retailers of several million WallStreetBets members sent their stock prices up, causing a brief reduction in a number of hedge funds. Wall Street with declining bets.
However, some analysts have suggested that there has also been some institutional involvement in rising stock prices.
Another action captivated by the retail frenzy, AMC Entertainment, increased by 17% in the premarket trade on Thursday, after rising by 18% during the previous session. The film chain was backed by New York Governor Andrew Cuomo, announcing that the city’s cinemas could open next month with limited capacity.
Meanwhile, the headset maker and his favorite Reddit colleague, Koss Corp, jumped 57% in the early hours of Thursday.